VOA标准英语2008年-Russian Government Increases Market Liquidity

Russia's government is pledging an additional $20 billion to help stabilize¹ domestic financial markets, as trading remains² suspended for the second day amid punishing declines in stock prices. VOA Moscow Correspondent Peter Fedynsky reports.
　
President Dmitry Medvedev attends a meeting with financial top management, in the Kremlin, Moscow, 18 Sep 2008

President Medvedev told a Kremlin meeting of senior government financial officials and heads of major private banks that the depth of the world's current market crisis exceeds even the most pessimistic predictions.

He says Russia made a conscious decision to join the global financial system, noting that it helped the country's economic growth in recent years.

In recent days and months, however, Russia has experienced substantial economic losses. On Wednesday, when regulators suspended trading at midday, Russia's RTS Index of leading stocks had fallen nearly 6.5 percent, adding to its 50-percent drop since June 1.

Analysts³ estimate investors⁴ have pulled more than $35 billion out of Russia since the beginning of last month's conflict in Georgia, which shook confidence in Russian markets.

Mr. Medvedev says Russia's adequate currency reserves and strong economy guarantee there will be no economic shocks.

Mr. Medvedev is proposing that the Russian government look into the possibility of using up to 500 billion rubles, about $20 billion, to support market stability, including $250 billion held in reserve as part of the budget. He says this must be done immediately.

Finance Minister Alexei Kudrin said liquidity⁵ problems at U.S. and other foreign banks are decreasing the ability of Russian lenders to offer credit. He added that lower global oil prices are also impacting the Russian market. As a result, he says, there is a need to increase liquidity in the financial sector⁶ and to stabilize accounts on the stock market.

Kudrin says the Finance Ministry⁷ has decided⁸ to increase limits on deposits of temporarily unallocated funds from the federal treasury⁹ in commercial banks. He says the limit was increased Wednesday to more than 1.5 trillion rubles, or $60 billion. Most of the funds, he says, are being provided to three banks, Sberbank, VTB and Gazprombank, because these institutions support most of the country's financial operations and interbank credit.

Sberbank and VTB both suffered losses of about 20 percent before trading was suspended Wednesday. Finance Minister Kudrin says markets will reopen Friday.

Russian Central Bank Chairman Sergei Ignatyev says interests rates will be lowered on a number of financial instruments by half a percent and in some cases a full percentage point.

 

1 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

2 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

3 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

6 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

7 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

8 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

9 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。